Renzo Protocol & Mode Network: How to Farm Points From 4 Projects at Once

Read how to maximize your rewards from restacking protocols and L2 solutions

About Mode

Mode is a modular L2 built on the Optimism stack. The project received a $2M $OP tokens grant from Optimism.

Mode is building a new onchain economy that rewards contribution to network growth.

Mode offers users 10x lower fees than on Ethereum network.

About Renzo

Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking.

About Ionic

Ionic is a decentralised non-custodial money market protocol with the best interest rates on Mode Network.

Ionic is a part of Mode Ecosystem.

Ionic provide own point system. On Ionic users can earn points by lending and borrowing assets and referring new users. These points are all equal but some actions have higher points earning potential than others.

Step-by-step Guide

Step 1: Bridge ETH to Mode Network

1. Open the Mode Bridge and connect your wallet

2. Enter the amount of ETH you want to bridge

3. Confirm the transaction

Now we have ETH in Mode network

Step 2: Restake ETH with Renzo Protocol

1. Open the Renzo Protocol App and connect your wallet

2. Select ETH in Mode network

3. Enter the amount of ETH and confirm transaction

Restaking with Renzo Protocol

Now we have ezETH — Renzo’s liquid restaking token and we start receiving ezPoints and EigenLayer Points.

You can see points balance on *Portfolio *tab.

For Renzo ezPoints, LPs receive 2x the value in the pool per hour. So, we will supply ezETH in a liquidity pool.

Step 3: Supply ezETH in LP on Ionic exchange

1. Open the Ionic App

2. Select the ezETH liquidity pool

3. Enter the amount of tokens you want to supply into the liquidity pool and approve the transaction

So, with this scheme, we get 2x Mode Points + 2x Renzo Points + EigenLayer Points + Ionic Points